In many applications, floating vessels or structures require mooring, such as in offshore drilling platform applications. The mooring lines typically require at least some tensioning to securely moor the vessel or structure. One approach to mooring and tensioning includes the use of so called “in-line tensioners”. When tensioning using an in-line tensioner, the in-line tensioner does not pass chain smoothly. Rather, the in-line tensioner lifts vertically as an Anchor Handling Vessel (AHV) pulls on the chain from above until enough energy is stored to suddenly open latches, similar to the plucking of a bow string. At this point the in-line tensioner body runs down the chain in an uncontrolled manner until it reaches equilibrium again and rests on a new link in the chain. Then, the in-line tensioner is lifted again, repeating the process as the mooring line gets successively tighter and tighter. This “yo-yo like” action creates the possibility of damage to the chain or the tensioner assembly. For safety and other purposes, such uncontrolled movements should typically be avoided whenever possible given the operating loads involved in such applications. For these and other reasons, it would be desirable to have options other than using in-line tensioners for mooring vessels.